Asia-Pacific Neodymium Iron Boron Magnets Market

Neodymium iron boron magnets (NdFeB), also known as neo magnets, are the strongest permanent magnets available today with maximum applications in energy products. The Asia-Pacific neodymium iron boron magnets market is growing on account of increasing applications. This market was valued at $6,829.02 million in 2013 and is expected to reach $10,752.62 million by 2019, growing at a CAGR of 9.10% from 2013 to 2018. The market is majorly driven by the growing demand for high magnetic strength and miniaturization of equipment in existing and emerging applications.

The report, ‘Asia-Pacific Neodymium Iron Boron Magnets Market’, analyzes the NdFeB magnets market by application for seven major areas, namely, consumer electronics, general industrial applications, automotive, medical technology, environment & energy, aerospace & defense, and others. All these applications have experienced growth until 2012 and the trend is expected to continue in the coming years.

Consumer electronics holds a majority of the share of the NdFeB magnet market in the Asia-Pacific region, estimated to grow at a CAGR of 7.80% during the forecasted period. Neodymium iron boron magnets are preferred for most applications because of their superior performance with the smallest volume. Aerospace & defense and automotive markets have been witnessing the maximum growth because of modernization and electrification to improve efficiency. The automotive market was valued at $1,448.2 million in 2013 and is estimated to grow at a CAGR of 10.60% by 2019.

This report covers the Asia-Pacific neodymium iron boron magnets market by country, covering China, India, Japan, and South Korea. China is the dominant country for the production and consumption of NdFeB magnets in the region. It owns major reserves of rare earth magnets that account for about 23% of the total reserves in the world and is the leading manufacturer of low-cost magnets. Within the Asia-Pacific market, India’s market is expected to grow at a CAGR of 10.60% for the forecasted period. The automobile market in Asia-Pacific, especially in China and India, is expected to become one of the largest automotive markets in the world. The automotive industry is one of the largest end-user industries for NdFeB magnets and the growth in the automobile sector leads to an increase in the demand for NdFeB magnets.

This report estimates the market size of neodymium iron boron magnets in the Asia-Pacific region both, in terms of volume and revenue. It is focused on a detailed study of its applications in different countries. It also provides a comprehensive review of important drivers, restraints, opportunities, and key issues in the market for neodymium iron boron magnets in this region. It includes an extensive competitive landscape of companies operating in this market, along with their company profile and competitive strategies. These companies include Hitachi, Shin-Etsu Chemical Co., Ltd., Lynas Corporation, Ltd., Molycorp Chemicals and Oxides, Inc., Hangzhou Permanent Magnet Group, Ningbo Yunsheng High-tech Magnetics Co., Ltd, Daido Steel Co., Ltd., and JPMF Guangdong Co. Ltd.

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Detailed analysis and new developments in the supply chain of rare earth permanent magnets

Market volume (application wise and country wise)

Competitive landscape which gives a detailed comparison of the portfolio of each company mapped at regional and country level

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Asia-Pacific Permanent Magnet
The Asia-Pacific permanent magnet market was valued at $9.75 billion in 2012 and is projected to reach $15.80 billion by 2018, growing at a CAGR of 8.8% between 2013 and 2018. This market is mainly driven by the growing demand for permanent magnets due to rising demand for miniaturization together with advancement in technology.

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North America Permanent Magnet
North America’s permanent magnet market was valued at $850.0 million in 2012 and is expected to reach $1,500 million by 2018, growing at a CAGR of 8.4% from 2013 to 2018. The market is majorly driven by the budding demand for permanent magnets, which is primarily due to an increase in the demand for advanced materials in existing and emerging applications.

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Europe Permanent Magnet
The European permanent magnet market was valued at $700.0 million in 2012 and is expected to reach $1,100.0 million by 2018, growing at a CAGR of 6.6% from 2013 to 2018. This market is experiencing significant growth mainly driven by an increase in the demand for advanced materials in existing and emerging applications.

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Middle East and Africa Permanent Magnet
Middle East and Africa’s permanent magnet market was valued at $130.0 million in 2012 and is estimated to reach $220.0 million by 2018, growing at a CAGR of 8.0% from 2013 to 2018. This market is experiencing high growth mainly driven by the development initiatives of various countries such as Saudi Arabia, which will boost the permanent magnet consumption in the region.

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Latin America Permanent Magnet
Latin America’s permanent magnet market was valued at $80.0 million in 2012 and is estimated to reach $180.0 million by 2018, growing at a CAGR of 12.5% from 2013 to 2018. This market is experiencing high growth mainly driven by the development initiatives of various countries, which will boost the permanent magnet consumption in the region.